Meeder Asset Management Inc. Sells 170,047 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Meeder Asset Management Inc. reduced its stake in Texas Instruments by 69%, holding $13.71 million in shares after selling 170,047 shares in the first quarter.
• Texas Instruments reported a quarterly EPS of $1.41, exceeding the estimate of $1.32, with revenue of $4.45 billion, up 16.4% year-over-year.
• The company declared a quarterly dividend of $1.36, with an ex-dividend date of July 31st, resulting in an annualized yield of 2.87%.

Meeder Asset Management Inc. lessened its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 69.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,301 shares of the semiconductor company's stock after selling 170,047 shares during the quarter. Texas Instruments makes up approximately 0.9% of Meeder Asset Management Inc.'s holdings, making the stock its 21st largest holding. Meeder Asset Management Inc.'s holdings in Texas Instruments were worth $13,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Texas Instruments by 21,778.6% in the 1st quarter. GAMMA Investing LLC now owns 3,422,027 shares of the semiconductor company's stock valued at $614,938,000 after purchasing an additional 3,406,386 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Texas Instruments by 2,898.0% in the 1st quarter. Jennison Associates LLC now owns 2,214,471 shares of the semiconductor company's stock valued at $397,940,000 after purchasing an additional 2,140,605 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Texas Instruments by 15.4% in the 4th quarter. Invesco Ltd. now owns 11,893,157 shares of the semiconductor company's stock valued at $2,230,086,000 after purchasing an additional 1,587,036 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd lifted its stake in shares of Texas Instruments by 1,000.6% in the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,287,734 shares of the semiconductor company's stock valued at $231,406,000 after purchasing an additional 1,170,728 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Texas Instruments by 12.2% in the 4th quarter. Northern Trust Corp now owns 10,398,010 shares of the semiconductor company's stock valued at $1,949,731,000 after purchasing an additional 1,132,187 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company's stock.

Texas Instruments Stock Up 0.0%

NASDAQ:TXN traded up $0.03 during trading hours on Friday, hitting $181.09. 3,395,975 shares of the company's stock traded hands, compared to its average volume of 7,385,152. The firm has a market cap of $164.63 billion, a P/E ratio of 33.15, a P/E/G ratio of 3.11 and a beta of 1.03. Texas Instruments Incorporated has a twelve month low of $139.95 and a twelve month high of $221.69. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81. The stock's fifty day moving average price is $200.47 and its two-hundred day moving average price is $185.42.

Texas Instruments (NASDAQ:TXN - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.09. Texas Instruments had a return on equity of 30.10% and a net margin of 30.23%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm posted $1.17 EPS. The business's revenue was up 16.4% compared to the same quarter last year. On average, research analysts expect that Texas Instruments Incorporated will post 5.35 earnings per share for the current fiscal year.

Texas Instruments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Thursday, July 31st will be issued a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.0%. Texas Instruments's dividend payout ratio is currently 99.63%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXN. Wolfe Research raised Texas Instruments from a "peer perform" rating to an "outperform" rating and set a $230.00 price target on the stock in a research report on Monday. Morgan Stanley reiterated an "underweight" rating on shares of Texas Instruments in a report on Tuesday, July 22nd. Benchmark boosted their price target on Texas Instruments from $200.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays downgraded Texas Instruments from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $180.00 to $125.00 in a report on Tuesday, April 22nd. Finally, Robert W. Baird boosted their price target on Texas Instruments from $175.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Texas Instruments currently has a consensus rating of "Hold" and a consensus target price of $212.21.

About Texas Instruments

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.